maasoap:

Believe, the complaints is not that deep but it was just as a result of the interview. Just to make the government aware that importation is affecting them.
Now read me: I'm into the palm oil business. Up till May 2016, we bought Nigeria palm oil as low as N4700 per 25 litres. The price catapulted to as high as N24,000 by January 2017. Up till that May 2016, producers were making profits with that price. Today, the price is between N8000 and N10,000. Even when you factor the increase in production cost into it, are producers still not making decent profits today?
But, you know, as with capitalists, the profits would never be enough.
My only concern is that the government should do something about porous bother.

If we close the borders, prices will surge high as demand will surpass supply. Cost of living will increase. Then the few local producers will smile to bank while plenty consumers will cry of hardship. The consumers will blame Buhari and APC for bringing hardship to Nigeria. So will you prefer a closed border with 24k per 25 L or an open border with 8k per 25 L. I produce soap and i know how price of Palm oil affects my business. My former boss had to switch from producing soap with palm oil to importing soap noodles when the price of palm oil was extremely high. Today he is back to boiling his own soap. If the price of the oil should go up again, i may be forced to shot down operation pending when the price comes down as i may not have the facility to import soap noodles.

Edoloaded:
in my life i havent met someone as senseles as you

I was going to ask you to elaborate so others who might feel cheated out of the position might understand that I fully deserve the honour but, I'm only focusing on the positives: I hope I go home with the trophy

iHart:
If we close the borders, prices will surge high as demand will surpass supply. Cost of living will increase. Then the few local producers will smile to bank while plenty consumers will cry of hardship. The consumers will blame Buhari and APC for bringing hardship to Nigeria. So will you prefer a closed border with 24k per 25 L or an open border with 8k per 25 L. I produce soap and i know how price of Palm oil affects my business. My former boss had to switch from producing soap with palm oil to importing soap noodles when the price of palm oil was extremely high. Today he is back to boiling his own soap. If the price of the oil should go up again, i may be forced to shot down operation pending when the price comes down as i may not have the facility to import soap noodles.

Porous borders. If the importation is through legal routes, everyone benefits including government. But with porous borders, the entire economy of a nation suffers including what your former boss produces.
BTW: I don't think I sounded like someone who wants N24,000 per litre.

Today, the price is between N8000 and N10,000. Even when you factor the increase in production cost into it, are producers still not making decent profits today?

maasoap:

Porous borders. If the importation is through legal routes, everyone benefits including government. But with porous borders, the entire economy of a nation suffers including what your former boss produces.
BTW: I don't think I sounded like someone who wants N24,000 per litre.

from the article you will see where Okomu complained that CBN is giving importers facilities to import the oil despite the fact that there is ban on the commodity. Invariably the border has been opened for some people. When i said closed borders i meant not relieving the restriction on the importation, that is maintaining the ban and not necessarily physical borders. In the case where Okomu is complaining, those importing are doing it legally.

mr1759:
okomu is not a reliable company, this ppl ship 95% of their products to Brussels refine to vegetable oil bring it back to sell to us, with the rate they produce palm oil in Nigeria how come the product is still very expensive to buy, mean while countries near sell at a cheap rate

Most Nigerian Citizens & Investors generally are Unrepentant Greedy People.

maasoap:

Believe, the complaints is not that deep but it was just as a result of the interview. Just to make the government aware that importation is affecting them.
Now read me: I'm into the palm oil business. Up till May 2016, we bought Nigeria palm oil as low as N4700 per 25 litres. The price catapulted to as high as N24,000 by January 2017. Up till that May 2016, producers were making profits with that price. Today, the price is between N8000 and N10,000. Even when you factor the increase in production cost into it, are producers still not making decent profits today?
But, you know, as with capitalists, the profits would never be enough.
My only concern is that the government should do something about porous bother. Unchecked rampant importation of items kills every damn business anywhere in the world. It is only in Nigeria we don't care. What is affecting you in your current business also awaits you in the one you are jumping into.

Words of wisdom.

They were recently distrained by firs for tax liabilities running into billions

Holamscoh:


Most Nigerian Citizens & Investors generally are Unrepentant Greedy People.

Okomu is one of them with their level of palm oil production, a gallon of palm oil is suppose be sold for N500 instead N7000 this ppl have use our land as farm land but the product from the farm we will not see them. how can Okomu a giant in palm oil production complain that imported palm oil is cheaper than our local palm oil product

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